The nationalised banks in Goa should reach out to fish vendors in the state who presently rely to a great extent on moneylenders from Tamil Nadu and end up paying high interest rates, a top Reserve Bank official said today.

“The middlemen from Tamil Nadu giving loans to the fish vendors in Goa indicate utter failure of bankers in the state. Please see to it that the banks reach out to these fish vendors,” Reserve Bank of India’s Regional Director, J B Bhoria said while addressing bankers and NGOs at a seminar organised by NABARD.

Earlier in the seminar, Goa Chief Secretary, B Vijayan said the moneylenders from Tamil Nadu who have a very strong presence here, virtually ‘monopolised’ the business (of giving small loans) to the fish vendors in the state.

Responding to the Chief Secretary’s observation, Bhoria said that since the loan is availed (by fish vendors) from an unorganised source, the rate of interest would be very high and vendors would even be required to make repayment on a day to day basis.

“Bankers should take the initiative and reach out to these vendors,” he said, adding that the aim of the organised lending was to save public from oppressive lending.

(This article was published on February 26, 2013)
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